Category: Corporate News

ExxonMobil Raises Rovuma LNG Stake to 50% as Mozambique’s US$30 Billion Gas Megaproject Moves Closer to Approval ExxonMobil has strengthened its position in Mozambique’s Rovuma LNG development after increasing its stake in the project from 37.5% to 50% through a strategic asset swap with Italian energy major Eni. The transaction reinforces ExxonMobil’s commitment to one of Africa’s largest planned natural gas developments and comes as project partners prepare for a final investment decision expected before

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XRG in Early Talks to Acquire Stake in Eni’s Libya Oil and Gas Business as North Africa Expansion Accelerates Abu Dhabi-based energy investment company XRG is reportedly exploring the acquisition of a stake in Eni’s oil and gas operations in Libya, marking a potential strategic expansion into one of North Africa’s most significant hydrocarbon markets. The discussions, first reported by Reuters, remain in the early stages and there is no certainty that a transaction will

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Eni Advances US$7.2 Billion Coral North LNG Project Towards 2028 Start-Up Italian energy company Eni is advancing development of its Coral North floating liquefied natural gas (FLNG) project offshore Mozambique, with production targeted for 2028 as the company prepares to expand the country’s LNG export capacity. The project is located in Area 4 of the Rovuma Basin, offshore Cabo Delgado in northern Mozambique. It is designed to produce approximately 3.55 million tonnes of LNG annually,

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South Africa Rejects Appeals Challenging TotalEnergies’ Offshore Exploration Plans South Africa’s environmental authorities have dismissed appeals challenging TotalEnergies’ offshore oil and gas exploration activities, allowing the company’s exploration plans to proceed following a review of objections raised by environmental organisations and other stakeholders. The dispute centres on offshore exploration activities in South African waters, where concerns have been raised about the potential effects of seismic surveys and drilling on marine ecosystems, fishing communities and coastal

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Shell Sells Nigeria Gas Distribution Business to Vaaris Energy as Portfolio Reshaping Continues LAGOS, Nigeria – Shell Petroleum B.V. has agreed to divest its entire stake in Shell Nigeria Gas Group (SNG) to indigenous energy company Vaaris Energy Limited, marking another strategic step in the energy major’s efforts to streamline its global portfolio. The transaction, which remains subject to regulatory approval, includes a domestic gas distribution business that supplies more than 130 industrial and commercial

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